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The general contractor invoice is designated for the billing of materials and services due to construction-related projects. The invoice is usually sent by the foreman or administrative assistant of the contractor and is due upon receipt unless otherwise agreed upon. Depending on the construction project, the invoice may be due before, during (installments), or when the services are completed.
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When a project gets started, a general contractor is hired to oversee an entire job. It’s their responsibility to ensure deadlines are met and the job gets completed. Every aspect of the project flows through the general contractor including subcontractors, which they employ to help complete the job. The lead person in charge, known as the project manager, manages the project’s schedule, other workers, and the day-to-day operations within the job. When taking on a job, a general contractor will make a bid. The bid amount is their price to complete the entire job. When making this bid, the general contractor weighs in all factors such as materials, labor, subcontractors, and their profit. In addition to construction, most general contractors have an understanding of the following:
- Obtaining building permits
- Construction Safety
Obtaining a general contractors license varies state by state. In states that do not require a license, it’s likely that there will be regulations when checking local ordinances. Some states may require a license to take on a job that exceeds a certain dollar ($) amount. For example, if you are a general contractor in Alabama taking on a $50,000 job, you will need a license. Florida, for example, requires all general contractors to have a license before they are allowed to take lead on a job. In order to obtain a general contractors license, you will need the following:
- EIN Number – A number issued by the IRS proving that your company is registered with your local state.
- Liability Insurance – The required insurance amount depends on local regulations.
- A Surety Bond or proof of savings up to the required amount.
- Proof of past work experience.